Bundle Africa

Bundle Africa, or simply Bundle is a social payment software that allows users to trade cryptocurrencies, send and receive fiat, and save in dollars and other currencies.

Bundle Africa
TypePrivately held company
IndustryFinancial Services
FoundedAugust 2019
FoundersYele Bademosi and Emmanuel Babalola
Headquarters
Nigeria
Area served
Africa (Ghana, Nigeria)
Key people
Emmanuel Babalola (CEO)
ProductsCryptocurrency exchange, cryptocurrencies
Number of employees
11-50 (2021)
Websitehttps://www.bundle.africa/

The Bundle Africa application helps users to perform transactions using cryptocurrencies such as Bitcoin, Ether, BUSD, and BNB.[1]

Bundle Africa was founded by Yele Bademosi (Co-founder/CEO at Nestcoin & Founding Partner at Microtraction) and Emmanuel Babalola.[2]

History

Founding and early years

Bundle was launched in August 2019 by Yele Bademosi and Emmanuel Babalola. It was developed within the Binance ecosystem. Bundle Africa was a remote-first company that began as a startup inside Binance.

Bademosi made his debut as the Director of Binance Labs, the crypto platform's venture arm, where he was responsible for creating Africa's blockchain ecosystem, a position he held until April 2020. He financed some of the most well-known tech businesses in the crypto industry, including Xend, Yellowcard, Bitsika, and Raise, to mention a few, all of which have gone on to achieve great success.[3]

Bundle is a cash and a cryptocurrency social payments app aimed at driving crypto development on the continent by making it more engaging, convenient to use, and inclusive for Africans. The app had over 50 thousand downloads in the first four months following its release, with a 4.4 rating on Google Play and over $4.5 million in transaction volumes.[4] Bundle had a monthly transaction volume of $56 million with over 350,000 customers in its early years.

Bundle Africa grew to 650,000 users in 16 months, mostly through networking, community marketing, as well as a little marketing budget.[5]

Bundle executed a successful pre-seed campaign in September 2019, raising $450k from Binance.[6] In 2020, the African cash and crypto app incorporated innovative and unique security features to ensure that all its crypto assets are safe and secure at all times.[7]

In May 2021, the company launched its native token (BXD).[8]

2021: Bademosi resigns

Yele Bademosi stepped down as CEO of Bundle Africa on July 31, 2021, with the intention of exploring other areas in the African crypto community that require more support outside of traditional purchase currency trading, while continuing to drive the adoption of digital currency across Africa and the many economic opportunities that come with it.[9] Emmanuel Babalola, the director of Binance Africa, was appointed to take over Yele's role as the incumbent CEO of the company.[10]

Yele parted ways with Bundle Africa on friendly terms. He was pleased that Emmanuel would be taking over the position and went on to say that the director of Binance Labs has made significant contributions to the blockchain ecosystem and that he believes Babalola is the perfect successor he could wish for.[11]

Successor: Emmanuel Babalola

Emmanuel Babalola is a self-taught software developer and has created multiple apps and products. He has more than three years of expertise in the crypto business, worked with Yele to raise some of today's leading crypto startups including Xend, Yellowcard, and Bitsika. Babalola is a pioneer in Nigeria's Blockchain sector Africa Forbes featured him in the Penresa series for the 2022 edition.[12]

He has pioneered numerous educational projects such as Binance Masterclass, which has reached over 400,000 individuals and gives free blockchain education classes to the masses, particularly in Africa. He has also aided in the establishment of self-regulatory blockchain organizations in Nigeria, which have played an important part in the development of the crypto and blockchain ecosystem in Africa. 'Simplicity' is one of his preaching strategies for the crypto gospel.[13][14]

Babalola was the VP of Sales & Marketing at Churchplus, Nigeria's largest church management service, and the Business Development Manager at Binance in Nigeria. He has led a lot of projects inside the community, and has been a driving force behind Binance's expansion on the continent since its inception.[15] Babalola graduated from the University of Uyo in Nigeria with a Bachelor of Science in Computer Science and is currently pursuing an MSc in Digital Currency and Blockchain Technology at the University of Nicosia in Cyprus.[16]

Cryptocurrencies

Users can buy, trade, invest and convert cryptocurrencies including Bitcoin, Ether, BUSD, BNB, Chainlink, and TRON. It also allows customers to deposit money into their respective bank account using the bundle app, purchase gift cards, quickly transfer crypto from the bundle wallet into another wallet.[17]

Services
  • Instantly send and receive cash or crypto.
  • Transfer funds or crypto to other wallets not on bundle.
  • Buy and sell cryptocurrencies.
  • Withdraw and deposit cryptocurrencies.

Bundle Africa teamed together with the Feminist Coalition and The Female Media Network (TEFEM) to offer educational and vocational awards to their respective communities in March 2022. This project was created to recognize International Women's Day. Bundle also sponsored women to pursue free Udemy courses on art, technology, and entertainment.[18]

References
  1. "Bundle Africa Review: P2P App for Cash & Crypto in Nigeria | Koboline". 2021-05-24. Retrieved 2022-04-24.
  2. "Yele Bademosi". Blockchain Africa Conference. Retrieved 2022-04-24.
  3. "Yele Bademosi steps down as CEO of Bundle Africa". Nairametrics. 2021-07-31. Retrieved 2022-04-24.
  4. "https://twitter.com/yelebademosi/status/1299336749240455168". Twitter. Retrieved 2022-04-24. {{cite web}}: External link in |title= (help)
  5. "This developer transitioned to blockchain development in order to solve Web2 problems". TechCabal. 2022-02-10. Retrieved 2022-04-24.
  6. "Introducing Bundle, an Africa-focused Social Payments App for Cash and Crypto". Binance Blog. Retrieved 2022-04-25.
  7. CryptoGuru (2020-09-05). "Bundle Africa, the Hottest Crypto App in Africa, Integrates Interesting Security Features into the Latest Update as it Crosses 50K Downloads - BitcoinKE". Retrieved 2022-04-25.
  8. Abiodun, Bolu (2021-05-24). "Bundle launches native token, BXD, to incentivise users". Techpoint Africa. Retrieved 2022-04-25.
  9. "Yele Bademosi steps down as CEO of Bundle Africa". Nairametrics. 2021-07-31. Retrieved 2022-04-25.
  10. "Yele Bademosi steps down as Bundle Africa CEO, Emmanuel Babalola takes over". Technext. 2021-08-01. Retrieved 2022-04-25.
  11. "Yele Bademosi steps down as Bundle Africa CEO, Emmanuel Babalola takes over". 2021-08-01. Retrieved 2022-04-29.
  12. "The Path To Sustainability | PENRESA I A Vision for Africa". Retrieved 2022-04-25.
  13. Independent, The (2021-09-25). "Binance to equip Ugandans with free bloc chain, cryptocurrency skills". The Independent Uganda. Retrieved 2022-04-29.
  14. "Emmanuel Babalola: Crypto honcho using Bundle to change narratives in Africa - Technext". 2022-04-07. Retrieved 2022-04-29.
  15. "Emmanuel Babalola". Blockchain Africa Conference. Retrieved 2022-04-25.
  16. "Emmanuel Babalola". Blockchain Africa Conference. Retrieved 2022-04-29.
  17. "Bundle Africa Review: P2P App for Cash & Crypto in Nigeria | Koboline". 2021-05-24. Retrieved 2022-04-25.
  18. "#BreakTheBias: Bundle sponsors vocational grants to over 3,000 women in commemoration of International Women's Day". Nairametrics. 2022-03-25. Retrieved 2022-04-25.
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